Office

FIRST TENANT SIGNS LEASE AT REDVELOPED OFFICE BUILDING

by admin January 27, 2009

CHICAGO — IDEO, a global innovation and design firm, has signed a lease for 20,442 square feet within an eight-story redeveloped office building located at 626 W. Jackson Blvd. in Chicago’s West Loop. Chicago-based Sterling Bay Cos., in partnership with The Deitcher Group, owns the 107,977-square-foot building. IDEO is the first tenant signed at the building since it underwent major capital improvements that encompassed common areas and building systems. Palo Alto, Calif.-based IDEO will take occupancy on floors seven and eight of the building in the third quarter. Lisa Konieczka of CB Richard Ellis represented IDEO in lease negotiations. Terms of the lease were not disclosed.

January 27, 2009

GRUBB & ELLIS BROKERS 25,000-SQUARE-FOOT OFFICE PURCHASE

by admin January 27, 2009

SAN ANTONIO — Grubb & Ellis has brokered the acquisition of Summit IV Building, an approximately 25,000-square-foot office building located at 5805 Callaghan Rd. in San Antonio. Grubb & Ellis’ Jerry Williams, Jason Brumm and Maggie Nigro, along with Ginger Unger of Secor One Commercial Group, represented the buyer, United Community Investors. Dan Gostylo of Providence Commercial represented the seller, Paul A. Violich Inc. Trust. The acquisition price was not disclosed.

January 27, 2009

Midwest Office

NAI OLYMPIA PARTNERS BROKERS SALE OF 67,267-SQUARE-FOOT OFFICE BUILDING

by admin January 26, 2009

INDIANAPOLIS — NAI Olympia Partners has brokered the sale of a 67,267-square-foot office building located at 9550 Zionsville Rd. in Indianapolis. L&R Acquisitions has purchased the building from Ameriplex Northwest Partners for an undisclosed amount. The facility is fully leased to DCL Medical Laboratories. Janice Paine and Jason Speckman with NAI Olympia Partners’ Investment Properties Team represented the seller in the transaction.

January 26, 2009

Midwest Office

CAREWORKS FAMILY OF COMPANIES RENEWS LEASES, EXPANDS WITHIN TUTTLE CROSSING

by admin January 26, 2009

DUBLIN, OHIO — The CareWorks Family of Companies has renewed its existing leases and has signed leases for additional space within Duke Realty Corp.’s Tuttle Crossing office park located in Dublin. CareWorks has renewed it 82,472-square-foot lease, and has leased an additional 8,632 square feet of space within a Class A office building located at 5555 Glendon Court. With the new lease, the four-story 132,854-square-foot building is fully occupied. Also in Tuttle Crossing, CareWorks has renewed its 35,653-square-foot lease and has leased an additional 7,133 square feet of space at 5500 Glendon Court. As part of the lease agreement, Duke has completed a build out of the new space and will refurbish portions of CareWorks’ existing space.

January 26, 2009

Northeast Office

900 CUMMINGS CENTER RECEIVES ENERGY STAR LABEL

by admin January 26, 2009

BEVERLY, MASS. — Cummings Properties has received the Environmental Protection Agency’s Energy Star designation for 900 Cummings Center, a 200,000-square-foot office building located in Beverly that is owned and managed by Cummings Properties. The facility is the first of its kind in Beverly to receive the Energy Star label and the fifth property in Cumming’s portfolio to do so.

January 26, 2009

Office Texas

WORLEYPARSONS LEASES FIVE FLOORS AT ENERGY CENTER II

by admin January 23, 2009

HOUSTON — WorleyParsons Group has signed a long-term lease for 141,000 square feet at Energy Center II, a 12-story, 305,000-square-foot, Class A office building located in Houston. The company will occupy the top five floors of the building, as well as have a reception area and conference facilities on the ground floor. The space will be used as the company’s U.S. corporate headquarters and for the consolidation of its Houston upstream oil and gas operations. WorleyParsons Group was represented in lease negotiations by Lou Cushman and Courtney Estenson of Cushman & Wakefield of Texas. The owner, a joint venture between Dallas-based Trammell Crow Co. and Principal Real Estate Investors, was represented by Steve Rocher of CB Richard Ellis. Energy Center II was completed this month. It features a fitness center, a deli and structure parking. It is in the process of applying for LEED-Gold certification. It sits adjacent to Energy Center I, the first phase of the project that was completed in January 2008. Energy Center I is presently the largest speculative office building in Houston to receive LEED-Silver certification.

January 23, 2009

Office Western

FULLER REAL ESTATE BROKERS THREE TRANSACTIONS

by admin January 23, 2009

COLORADO — Fuller Real Estate recently completed three transactions totaling $13.55 million in Colorado. In the first transaction, KCBC LLC completed the disposition of a 50,724-square-foot, three-building office complex, which is located at 10394 and 10499-10579 W. Chatfield Ave. in Littleton, Colo. The state of Colorado purchased the property for $4.9 million. John Becker and Mike Haley of Fuller Real Estate represented the seller. In the second transaction, B&J Properties Limited LLC acquired a 58,750-square-foot office building, which is located at 13111 E. Briarwood Ave. in Centennial, Colo., from Thirteen One Eleven Corp. for $4.5 million. Ron Allum of Fuller represented the buyer. In the final transaction, Mellisuga Inc. sold an 115,000-square-foot industrial building, which is located at 2201 S. Wabash in Denver, to Grande Investment LLC for $4.15 million.

January 23, 2009

Office Western

27,512-SQUARE-FOOT OFFICE BUILDING ACQUIRED FOR $5 MILLION

by admin January 23, 2009

SAN DIEGO — RRN Mesa Rim LLC has purchased a 27,512-square-foot office building, which is located at 10110 Mesa Rim Rd. in San Diego, for $5 million. The property will be occupied by Mesa Rim Climbing Center, which plans to raise the roof by approximately 40 feet to construct a 40-foot indoor rock-climbing wall. The facility is slated to open in third quarter 2009. Bryce Aberg and Brant Aberg of Grubb & Ellis|BRE Commercial represented the buyer. The seller was LBA/MET Partners I-Company IV LLC.

January 23, 2009

Office Texas

SCM NEGOTIATES 16,968-SQUARE-FOOT OFFICE SALE

by admin January 22, 2009

FORT WORTH, TEXAS — Arlington, Texas-based SCM Real Estate Services has negotiated the sale of a three-story, 16,968-square-foot office building located at 6750 Locke Ave. in Fort Worth. SCM’s Theron Bryant represented the seller, California-based KHI Locke LLC. The buyer was Dallas-based Parkwood Management. The acquisition price was not disclosed.

January 22, 2009

Office Western

CONSTRUCTION BEGINS ON 385 INTERLOCKEN OFFICE BUILDING

by admin January 22, 2009

BROOMFIELD, COLO. — Franklin Street Properties and Prime West have broken ground on Central Park Tower, an 11-story, 305,000-square-foot office building located within Interlocken Business Park in the Broomfield area. Designed by Gensler, the building has received a pre-certified LEED Gold rating and features outdoor and indoor dining areas, formal and informal galleries and high-end finishes. Additionally, the property features a fitness center, multiple shared collaboration areas, a café and secure underground parking. The Weitz Company is serving as general contractor. Completion is slated for 2010.

January 22, 2009

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